The global corrosion monitoring market size was USD 176.6 Million in 2015 and is projected to reach USD 297.8 Million by 2021, at a CAGR of 9.1% between 2016 and 2021. The base year considered for the study is 2015, while the forecast period is between 2016 and 2021.

The Objectives of the Report are as follows:

To define and segment the market for corrosion monitoring on the basis of type, technique, end-use industry, and region

To provide detailed information regarding major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market for corrosion monitoring

To analyze and forecast the market size of corrosion monitoring, in terms of value

To analyze the market segmentation and project the market size, in terms of value for key regions such as North America, Europe, Asia-Pacific, South America, and the Middle East & Africa

To strategically profile the key players in the corrosion monitoring market

Top-down and bottom-up approaches have been used to estimate and validate the size of the global market and to estimate the sizes of various other dependent submarkets in the overall corrosion monitoring market. The research study involved extensive use of secondary sources, directories, and databases such as Hoovers, Bloomberg, Chemical Weekly, Factiva, and other government and private websites to identify and collect information useful for the technical, market-oriented, and commercial study of the global corrosion monitoring market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key officials, such as CEOs, VPs, Directors, and other executives. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary interviewees is depicted in the below figure:

In the corrosion monitoring value chain, there are technology developers or suppliers such as SGS SA, Permasense, Cosasco, and others. End-use industries include companies in oil & gas and chemical sectors such as BP, Shell, Reliance, Mitsui, BASF, and so on.

Key Target Audience:

Corrosion monitoring technology providers

Corrosion monitoring equipment manufacturers

Corrosion monitoring equipment end-use industries

Government and regulatory organizations

Investment research firms

Scope of the Report:

This research report categorizes the global corrosion monitoring market on the basis of type, technique, end-use industry, and region.

On the basis of Type:

Intrusive

Non-Intrusive

On the basis of Technique

Corrosion coupons

Electrical resistance

Linear polarization resistance

Galvanic

Ultrasonic thickness measurement

Others

On the basis of End-Use Industry

Oil & gas

Chemical

Manufacturing

Power Generation

Pulp & paper

Others

On the basis of Region:

North America

Europe

Asia-Pacific

South America

Middle East & Africa

The market is further analyzed for the key countries in each of these regions.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for the report:

Regional Analysis:

Country-level analysis of the corrosion monitoring market by technique

Country-level analysis of the corrosion monitoring market by end-use industry

Company Information:

Detailed analysis and profiling of additional market players

Product Analysis

Product matrix, which gives a detailed comparison of product portfolio of each company

The global corrosion monitoring market is estimated to reach USD 297.8 Million by 2021, registering a CAGR of 9.1%, in terms of value, between 2016 and 2021. The increasing demand is driven by increasing awareness about potential cost savings and asset protection. The report analyzes the market on the basis of type, technique, end-use industry, and penetration of each technique in each end-use industry in each major region and country. It also covers the market behavior of leading producers, key developments, and strategies implemented to sustain and succeed in the market.

The corrosion monitoring market, on the basis of type, is segmented into intrusive and non-intrusive corrosion monitoring techniques. It is further classified into the following techniques: corrosion coupons, electrical resistance, linear polarization resistance, galvanic, and ultrasonic thickness measurement. The corrosion coupons segment accounted for the largest share of the overall corrosion monitoring market in 2015. Ultrasonic thickness measurement is the fastest-growing technique for corrosion monitoring and is expected to dominate the market. Asia-Pacific is the fastest-growing market for corrosion monitoring. This high is mostly due to high economic growth and heavy investment across industries, such as petrochemicals, chemicals, power generation, renewable power generation, and presence of global manufacturing hubs.

The end-use industries of corrosion monitoring include oil & gas, chemical, manufacturing, power generation, pulp & paper. The oil & gas segment accounted for the largest share of the overall corrosion monitoring market. Protection of assets and increasing regulations on corrosion monitoring and pipeline inspections makes the oil & gas sector the most lucrative market for corrosion monitoring market players. Upstream, midstream, and downstream industries has billions of dollars invested in assets ranging from offshore rigs to inter-state pipelines to refineries. All these assets are under constant attack of corrosion, hence, corrosion monitoring is especially important in the oil & gas industry.

Globally, Asia-Pacific dominated the corrosion monitoring market in 2015, whereas North America, due to its increasing oil & gas activities, is the second-largest market. Asia-Pacific is also projected to be the fastest-growing market and will remain the largest market till 2021. The market for corrosion monitoring is dominated by Asia-Pacific due to the presence of emerging economies such as China and India. There are increasing industrial activities and end-use industries in these countries are increasingly focusing on asset protection and reduction of loses.

The major restrains in the market are identified to be lack of sufficient regulatory mandates in most of the markets in Asia Pacific and lack of awareness among end-use industries. Market leaders such as Permasense, SGS SA, Cosasco, and others have strong brand image, both in intrusive as well as non-intrusive type of corrosion monitoring market. Increasing demand from Asia-Pacific will lead to shifting of global majors to the region. New and local players are also expected to explore the growing market of global corrosion monitoring.

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